Did you ever know someone who was well-to-do, but always acted like they were broke? A lot of rich people are like that.
Picture a well-dressed gentleman turning a pocket inside out to show a panhandler he has no change, while his back pocket has a fat wallet, his other front pocket has a big wad of bills, a check book and credit cards are in his coat pocket and pile of stock certificates are in his vest pocket.
Now think about Delphi. Filed for bankruptcy protection, saying they can’t afford to pay decent American wages, while holding cruise ship galas and passing out executive bonuses. Continue Reading…